Sydney-based EBC Hotel & Leisure Fund have sold their Tasmanian hotel group in a circa $30 million deal to Melbourne-based boutique investment house Pentagon Group, in a transaction managed by JLL Hotels & Hospitality Group.

In what will be one of the largest portfolio offerings in the pub sector across Australia this year, EBC Hotel & Leisure Fund have moved to sell their three Tasmanian assets, being The Foreshore, Hobart, Olde Tudor Hotel, Launceston, and Bayside Inn, St Helens.

Value of property prices in Sydney are expected to rise by 2 per cent and in Melbourne, unit prices will grow from 0 to 2 per cent and house prices will increase from 1 to 3 per cent, according to Dream Design Property (DDP).